Accounting Aid Keeps Streetcar Program on the Rails

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Financial services firm Ernst & Young may help put a planned Los Angeles Streetcar program back on track, the Los Angeles Downtown News reported Monday. A June report on the proposed Los Angeles Streetcar suggested the 3.8-mile Downtown loop would cost $281.6 million, leaving a shortfall of at least $144 million after accounting for local tax dollars and hoped-for federal government funding.

The city has agreed to give Ernst & Young a one-year contract worth $1.49 million, with two one-year extension options beyond that, to help figure ways to close the funding gap, according to city documents.

The City Council’s Transportation Committee approved the contract last week, and it awaits a vote from the full Council.

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